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Friday briefing: Saudi's Public Investment Fund to reduce international sports investments

IMAGO

IMAGO

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1 November 2024 - 4:30 AM

The Public Investment Fund (PIF), Saudi Arabia's sovereign wealth fund, is set to reduce its international sports investments by up to 20% to concentrate on local businesses and the nation's economy.

The PIF's governor, Yasir Al-Rumayyan, stated that the fund's investment in international sports properties has surged from 2% to 30% in recent years, and the goal is to bring it down to between 18% and 20%.

According to a report from Spanish media Palco 23, the PIF

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